Belgium-Based Cardio3 BioSciences To Open Facility In Rochester, Minnesota
03/03/2015
The company said it will hire 33 people to work at a 15,000-square-foot facility in the Minnesota BioBusiness Center in downtown Rochester. The company plans to further develop its C-Cure pharmaceutical therapy at the center.
As an incentive, the Minnesota Department of Employment and Economic Development will award the company $357,000 from the Minnesota Job Creation Fund once Cardio3 completes its investment and hiring goals.
“Cardio3 is a global company with groundbreaking heart therapy treatments and is a welcome addition to Minnesota’s world-leading destination for life sciences,” said DEED Commissioner Katie Clark Sieben. “The company’s choice to invest in Minnesota will mean positive economic benefits for the community, including new, high-quality jobs and an increase in the local tax base.”
Cardio3 BioSciences, headquartered in Mont-Saint-Guibert, Belgium, was founded in 2007 with a focus on discovering, developing and commercializing regenerative and protective therapies for cardiovascular diseases. The company’s C-Cure therapy works by harvesting a patient’s cells from bone marrow and reprogramming them to repair that patient’s damaged heart muscles.
The Mayo Clinic, which has been working with Cardio3 for several years to develop the therapy, has a small ownership stake in the company.
“This project was seven years in the making,” said Rochester Mayor Ardell Brede. “It's gratifying to see the hard work put into our annual BIO International trade show attendance pay off. Cardio3 will be a great addition to our business community.”
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